Eurozone flash HICP rises faster by 3.8% YoY in September, beats 3.6% estimates
Eurozone’s preliminary Harmonized Index of Consumer Prices (HICP) data for September arrives at 3.8% Year-on-Year (YoY), higher than 3.6% estimates and August’s final reading reading of 3.2%. On a monthly basis, inflationary pressures grew at a faster pace of 0.6% against the prior release of 0.4%.
In September, the Eurozone's preliminary Harmonized Index of Consumer Prices (HICP) rose to 3.8% year-on-year, exceeding the previously estimated 3.6% and August's final reading of 3.2%. On a monthly basis, inflation surged by 0.6%, compared to the prior release of 0.4%. The core HICP, excluding volatile components such as food, energy, alcohol, and tobacco, increased by 2.5% year-on-year, higher than the previous 2.4% reading.
The month-over-month core HICP climbed by 0.2%. The Euro (EUR) showed no significant movement after the Eurozone HICP data release, with EUR/USD up 0.1% to around 1.1250. The HICP measures price changes of a basket of goods and services across the European Monetary Union, using a unified methodology. A high reading is generally considered bullish for the Euro (EUR), while a low reading is bearish.
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